Purchasing a condo in cocoa beach florida

[moneymaker]

Hi all,

Recently really been thinking about purchasing a ocean front condo in cocoa beach Florida or as far north as st Augustine and as far south as Vero Beach.

Plan would be to start using for vacations and this would be our long term hold for when we are eventual snow birds in retirement.

Welcome thoughts on the locations, real estate market in those areas, and possible rental income.

Thanks!

 

[NYEXPAT]

Parents lived oceanfront Vero Beach for many years. They loved it and I thought it was very nice. Swimming alone can be dangerous due to riptide and sharks and major storms can take away your private beach. One or two excellent restaurants, they roll up the streets at 9 pm though.

 

[Nick12]

Hi all,

Recently really been thinking about purchasing a ocean front condo in cocoa beach Florida or as far north as st Augustine and as far south as Vero Beach.

Plan would be to start using for vacations and this would be our long term hold for when we are eventual snow birds in retirement.

Welcome thoughts on the locations, real estate market in those areas, and possible rental income.

Thanks!

Better get hurricane and flood insurance. Coastal FL is hurricane alley every year. I have been living in Florida for 26 years and June- Nov is hurricane season. I have lived thru them and at times my home sustained hurricane damage.

 

[Shabby]

Be very aware of what the "homeowners dues" cost. I just went through a similar process and concluded that it is better to Airbnb a place for the months I am there and have the flexibility to change things. Then after a couple years if it still is a good idea, you can always buy. Things will be cheaper then too.

Also know if you get an older building, you can be assessed for new HVAC or redoing the decks, etc.

 

[ShokWaveRider]

I would THOUROUGHLY check out the HOA solvency. The Ocean takes a toll on the buildings and recently there seem to have been a lot of special assessments. And the buildings are very old now. I know 3 friends here in NE Florida that have had trouble selling for that reason. Buyer beware.

 

[firemediceric]

I live in Sebastian, FL. A sleepy town to the north adjacent to Vero. I suggest that as you choose between St. Augustine, Cocoa Beach and Vero Beach that you spend some time not only where you will have your winter home but also in the adjacent areas.


Of the 3 you are looking at, I think you will find Vero Beach to be the best with regard to traffic and the general feel of the demographics. Ft. Pierce to the south of Vero has a lot of crime, but not too bad beachside. Cocoa Beach is similar with Cocoa having a fair amount of crime, but some areas are very nice. Cocoa Beach has an older feel in general to me than Vero Beach does. Cocoa Beach saw a lot of its building around the boom of the space program. Some areas are long in the tooth. Much of St. Augustine is run down and dilapidated because of how long ago it was built up. By comparison, Vero is newer in general, not as populated, traffic not as bad (although traffic is rapidly becoming worse) and I believe you will find the property crime is not what it is in St. Augustine or Cocoa Beach.

 

[Nick12]

I live in Sebastian, FL. A sleepy town to the north adjacent to Vero. I suggest that as you choose between St. Augustine, Cocoa Beach and Vero Beach that you spend some time not only where you will have your winter home but also in the adjacent areas.


Of the 3 you are looking at, I think you will find Vero Beach to be the best with regard to traffic and the general feel of the demographics. Ft. Pierce to the south of Vero has a lot of crime, but not too bad beachside. Cocoa Beach is similar with Cocoa having a fair amount of crime, but some areas are very nice. Cocoa Beach has an older feel in general to me than Vero Beach does. Cocoa Beach saw a lot of its building around the boom of the space program. Some areas are long in the tooth. Much of St. Augustine is run down and dilapidated because of how long ago it was built up. By comparison, Vero is newer in general, not as populated, traffic not as bad (although traffic is rapidly becoming worse) and I believe you will find the property crime is not what it is in St. Augustine or Cocoa Beach.

+1 / very rough parts in Cocoa and don’t get me started on Daytona Beach. Not what it was anymore. Vero Beach has the mouse if you ever want to check out the Disney resort.

 

[ShokWaveRider]

We live in St. Augustine, only the cheapsville parts are run down, like any place. St. Augustine keeps itself better than most cities as it has to attract eclectic historical tourists. But they to not go to West Augustine which is the cheapsville part.

The Island and St Augustine Beach where we live is vibrant and has a great clean well maintained beach. You do get what you pay for. Home here range from the late 90's to present day. One great thin about St. Auggie is we have everything anyone needs within a 5 - 10 mile radius.

 

[brucethebroker]

Have you considered the winter temps? Set up a spread sheet and track the temps during winter months and compare areas you currently like to going further south: Delray, etc. If you plan on walking or biking every day, you don't want to be somewhere too chilly during Jan-Feb. We find we prefer nothing colder than 60's each day.

Friends who used to snowbird in the panhandle recently relocated further south for that very reason

 

[Cobra9777]

My in-laws lived in Satellite Beach for 25 years. It's just south of Cape Canaveral and Cocoa Beach. They were on the A1A directly across from a public beach. It was a small development of houses, duplexes, and townhomes built in the mid 1980s. Very well maintained and HOA was reasonable. I just checked Zillow and the place looks great. Values seem quite reasonable for a buyer. We haven't been there since they sold in 2010.

There were plenty of hurricanes but they never flooded and just minor damage from wind. They would usually stay with some friends in the Orlando area and return the day after. Never a problem, but never a direct hit either.

We always enjoyed visiting there especially when our kids were young. It's literally the perfect location for grandparents... all the great theme parks are less than an hour away, the space center, beaches, boating, fishing, watch a rocket launch from the beach. Our kids had a blast staying there. They got to watch sea turtles laying their eggs on the beach. We loved the abundance of great restaurants and fresh seafood.

 

[Dtail]

I believe the relatively recent Hurricane Matthew had some effects on the St. Augustine area, but ShockWR can probably expand on it more.

 

[Nick12]

I believe the relatively recent Hurricane Matthew had some effects on the St. Augustine area, but ShockWR can probably expand on it more.

Buddy of mine lives in St Augustine. The local roads were flowing like a crazy out of control river. Lost power and water for several weeks.

 

[Music Lover]

Have you considered the winter temps? Set up a spread sheet and track the temps during winter months and compare areas you currently like to going further south

The historical weather data can be found online and goes back several years for most areas.

 

[BeachOrCity]

I am not a big believer in buying what will be an investment property now, with the plan to move into it later. What makes a good investment and what makes a good home are usually very different and you may end up sub-optimal in both cases.

If you do move forward, listen to what others said about expenses. I have had multiple vacation rentals. The expenses and wear and tear are much more that you think, and specifically oceanfront adds significantly to the bill. Everything rusts and wears out due to salt air, and not owner occupied this problem magnifies.

 

[ShokWaveRider]

I believe the relatively recent Hurricane Matthew had some effects on the St. Augustine area, but ShockWR can probably expand on it more.

There a 2 main flood areas in St. Augustine:

1) Downtown, the waterfront and King street. Even in a heavy downpour there is standing water around. Let a lone a hurricane.

2) Davis shores on the other (South) side of the Bridge of Lions. This is a disaster at the best of times. The water infrastructure is a know problem. Unless you home is high, expect problems. It was the worst hit in both Mathew and Irma.

Most other areas are fine.

Rules:

1) Always buy a concrete block constructed home, especially if near the beach.

2) Always get an Elevation certificate and do not go near a place lower than 9.5 - 10 feet high.

3) Get a disclosure as to whether the home was flooded EVER. I think this is a law in Florida anyway, a disclosure form is part of the sales contract.

As far as I can tell and where we live, mid Anastasia Island south of SR312 is 10' and above. From a power perspective this area is on the same power grid as Flagler hospital, the longest we have ever had power out is 20 hours.

Most of the modern construction in St. Augustine is all good. But as mentioned some areas have their issues. Not all Agents disclose the issues, so like anything buyer beware. This is not just specific to St. Augustine. Palm Coast, Flagler Beach and Daytona have similar issues as far as I can tell.